Crude oil trades in range as key data China still struggling to recover
Crude oil traded in a tight range on Thursday morning as China (a major crude oil consumer) came out with its consumer price index (CPI) and producer price index (PPI) numbers. Meanwhile, crude oil inventories in the US, another major consumer, fell during the week ending March 3. At 9.55 am on Thursday, May Brent […]
Crude oil gains a tad on US industry data
Crude oil futures traded marginally higher on Wednesday morning as an industry data showed a decline in inventory levels in the US. At 9.57 am on Wednesday, May Brent oil futures were by 0.18 per cent at $83.44 and April crude oil futures on WTI were up by 0.01 per cent at $77.59. March crude […]
Crude oil drops on fears European Central Bank may hike interest rates again
Crude oil traded lower on Friday morning as the market expects high consumer inflation figures in Europe will lead to an interest rate hike.At 9.57 am on Friday, May Brent oil futures were down by 0.38 per cent at $84.43 and April crude oil futures on WTI were down by 0.38 per cent at $77.86.March […]
Crude oil price up despite inventory build up in US
Despite the more-than-expected increase in the inventories in the US, crude oil traded higher on Friday morning. Prospects of tighter supplies in the coming weeks kept the energy commodity elevated. At 9.50 am on Friday, April Brent oil futures were up by 0.81 per cent at $82.88 and April crude oil futures on WTI were […]
Zinc: Go long on dips
The Zinc futures contract traded on the Multi Commodity Exchange (MCX) seems to be forming a base above ₹260 per kg. The contract fell to a low of ₹266.75 last week and is attempting to bounce. It is currently trading at ₹274.65 per kg. Outlook There is a resistance at ₹280-₹282. The contract has to […]
Crude oil drops as market assesses likely impact of Fed’s minutes
Crude oil futures traded lower on Wednesday morning as the market felt that the release of minutes of the meeting of the US Federal Reserve later in the day may have an impact on the demand for crude oil in the global market. At 9.52 am on Wednesday, April Brent oil futures were down 0.22 […]
Crude oil declines awaiting minutes of US Fed Reserve meeting
A strong US dollar and the expectations of an aggressive increase in interest rates in the US-led crude oil futures to trade lower on Tuesday morning. At 9.57 am on Tuesday, April Brent oil futures were at $83.18, down by 1.06 per cent, and April crude oil futures on WTI were at $76.65, down by […]
Crude oil up on hopes of Chinese demand rising
Expectations of an increase in demand from China in 2023 buoyed crude oil futures higher on Monday morning. At 10.01 am on Monday, April Brent oil futures were up by 0.67 per cent at $84.56 and April crude oil futures on WTI were up by 0.63 per cent at $77.03. March crude oil futures were […]
Natural gas: Downtrend losing momentum
Natural gas futures on the Multi Commodity Exchange (MCX) have been on a decline since September last year. It has fallen substantially and the nearest expiry — that is, February futures — is currently hovering around ₹210.Although the trend has not turned bullish, the selloff seems to be losing pace as the contract recently entered […]
MCX to relaunch cotton futures today
Cotton futures trading, which was suspended by the Multi Commodity Exchange of India for the last five months, will resume from Monday.The cotton futures was suspended to redesign it to align with domestic markets. Cotton futures for delivery in April, June and August will be available for trading. Experts of the cotton market estimate that […]